Kumowizard

Indecision, and warning signals for bulls

FX:USOIL   Crude Oil (WTI)
205 3 10
I don't say we have to rush to short Oil             , but we have quite a lot of warning signals.

Daily:
- Ichimoku is bullish , but price i bit far above Kijun, and has been struggling to clear 51,50-52 resistance for 11 trading days now.
- Heikin-Ashi gives mixed signals, the most I can read here is: indecision
- haDelta, DMO and MACD also confirms indecisive behaviour.

Will we see a pull back lower? Maybe yes, maybe not. If something triggers profit taking, retracement target can be 47,50-48,00.
What do we have to monitor for a full exit from longs and to open a swing short? -> a 4H signal.

4H:
- Flat and thin Kumo, flat Kijun, weak bearish Tenkan/Kijun. Ichimoku is neutral, with minor bearish bias ahead.
- Lower support is: 50-50,40 , upper resistance is 51.
- Heikin-Ashi pattern shows consolidation.
- Direction can not be read from haDelta, DMO and EWO either.

4H is perfectly neutral. Bears should take only a clear and confirmed sell signal below 50 - 50,40, and this is the level Bulls should use as ultimate trailing stop for long positions.

IvanLabrie PRO
2 months ago
Agreed, I was waiting for a signal to short, need to see lower prices and conviction first though.
Reply
Kumowizard PRO IvanLabrie
2 months ago
there we have a signal now! :-) but it is just a weak signal, the trade is counter trend. Max position size should not exceed half trade unit. Telling it rather to novice readers, not to you Ivan. I know you have a money management strategy.
+1 Reply
IvanLabrie PRO Kumowizard
2 months ago
Thanks. Indeed, looks like we got a short term trade at hand.
Cheers.
Reply
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